Duke Energy has entered into an agreement to acquire the majority of the energy stocks of Jackson Energy, the largest shareholder in Duke Energy’s energy assets, the company said Wednesday.
The deal is expected to close in the first half of 2019.
The acquisition will be for approximately $3 billion in shares of Jacksons energy businesses, which include the Jacksson Energy Power Company, Jackson Power Generation Company, and Jackson Gas & Electricity Company.
The companies are currently based in the same region as each other and have the same market capitalization of $6.6 billion.
The transaction is expected, along with other strategic investments, to help accelerate growth of the Jackson portfolio, according to Duke Energy.
Jackson owns approximately 1 percent of Duke Energy, which has a market cap of $5.7 billion.